FRINGE BENEFITS TAX ASSESSMENT ACT 1986

Subdiv C inserted by No 142 of 2012, s 3 and Sch 1 item 1, applicable in relation to an employee who, on or after 1 October 2012, lives away from his or her normal residence (whether a benefit provided for living away from that residence on or after that day was paid before, on or after that day). For transitional provisions see note under Subdiv
B
heading.

31G(1)
This section applies to the following expenses incurred by the employee:

(a)
an expense for the accommodation of eligible family members during the period to which a living-away-from-home allowance fringe benefit relates;

(b)
an expense for food or drink for eligible family members during the period to which a living-away-from-home allowance fringe benefit relates, if the total of those food or drink expenses for that period exceeds the amount the Commissioner considers reasonable.

31G(2)
The employee substantiates the expense if the employee:

(a)
before the declaration date for the year of tax during which the fringe benefit was provided, gives the employer:

(i)
documentary evidence of the expense, or a copy; or

(ii)
a declaration, in a form approved by the Commissioner, purporting to set out information about the expense; and

(b)
if the employee gives a declaration under subparagraph (a)(ii)
-
retains documentary evidence of the expense for a period of 5 years starting at that declaration date.

Note:

Substantiating expenses increases the exempt accommodation component, and exempt food component, for working out the taxable value of the relevant fringe benefit.

S 31G inserted by No 142 of 2012, s 3 and Sch 1 item 1, applicable in relation to an employee who, on or after 1 October 2012, lives away from his or her normal residence (whether a benefit provided for living away from that residence on or after that day was paid before, on or after that day). For transitional provisions see note under Subdiv
B
heading.

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